MARIJUANA: CALIFORNIA
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Hi, Alan. Nice weed, bro.
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Current Law
California Law Allows Marijuana Business Owners to Deduct Expenses from State Taxes
Bill Link: AB37
Effective Date: 10/12/2019
Overview: California Gov. Gavin Newsom signed a bill that severs a link between state and federal tax law, allowing individuals to deduct expenses from legal marijuana businesses for state income tax purposes despite federal prohibition.
With the passage of AB37, the IRS code governing expenditures in connection with the illegal sale of drugs does not apply to the carrying on of any trade or business related to commercial cannabis activity by a licensee. The provision will sunset at the end of 2025.
While California marijuana businesses still cannot deduct business expenses for federal tax purposes, under AB37, they can now take deductions for state tax purposes just like any other business.
California Law Allows People to Expunge Some Marijuana Charges
Bill Link: AB1793
Effective Date: 4/23/2017
Overview: A California law went into effect that creates a process to expunge or reduce the sentences of people charged under the state’s marijuana laws before recreational cannabis was legalized. Enactment of this law takes another step toward nullifying federal marijuana prohibition in effect in California.
Under the new law, the court will automatically reduce or dismiss marijuana convictions pursuant to the Adult Use of Marijuana Act (AUMA) unless prosecutors successfully challenge the dismissal of charges or sentence reduction.
Under the AUMA, any person charged under previous California marijuana laws can petition for the recall or dismissal of a sentence, the dismissal and the sealing of a conviction, or the redesignation of a conviction of an offense for which a lesser offense or no offense would be imposed under the new law. Under AB1793, expungement will instead happen automatically without any petition necessary, effective July 1, 2020. The bill creates a process to identify people eligible for expungement and for prosecutors to challenge the automatic dismissal or reduction of charges.
Learn More Here
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum
has been the industry's standard dummy text ever since the 1500s.
Watch This
4 Essential Steps to Nullify Federal Gun Control
All gun control is a violation of your natural right to keep and bear arms. But the ATF and their partners in local law enforcement aren’t going to stop themselves. When it comes to violations from the federal government, it takes sound strategy – and a lot of fortitude and perseverance on the part of the people. (podcast here)
Essential Reading
marijuana Generic text here
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged.
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s.